Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Unapproved share option definition

What does Unapproved share option mean? An unapproved share option is a share option granted outside a tax‑advantaged or Revenue/HMRC‑approved share option scheme, typically used to incentivise employees, directors or consultants with maximum flexibility over eligibility, vesting and performance conditions. The term is descriptive rather than a defined term in legislation, but in the UK it is used in the context of employment‑related securities under Part 7 ITEPA 2003; usage is broadly consistent across England & Wales, Scotland and Northern Ireland, and aligned in Ireland. Key features and tax treatment: - United Kingdom: on exercise, the spread (market value less exercise price) is generally subject to income...

Deed of grant of immediately exercisable unapproved share option (England and Wales)

Published by a LexisNexis Share Incentives expert

Precedents

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[TO BE PRINTED ON COMPANY HEADED NOTEPAPER]

[ date ]

To [ insert name of option holder ]

Right to acquire [ insert class of Shares ] shares in the capital of [ name of company ]

[ insert name of company ] (the Company) hereby offers you a Share Option (the Option) conferring the right to acquire [ insert number ] [ insert class and Nominal value of shares ] in the capital of the Company (the Shares) at an exercise price of £[ insert exercise price per share ] per Share (the Exercise Price).
The Option can be exercised from the date of this letter and shall expire, to the extent it is not exercised, on [ insert details, dates or events on which the option will lapse — this should be within two to three months ]...

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Web page updated on 22/05/2026

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